Until last week, Mirror Protocol, a DeFi protocol on the old Terra blockchain, suffered a $90 million exploit that went largely unnoticed. According to reports, the exploit occurred on the DeFi project in October 2021. Mirror Protocol is a DeFi platform that allows users to take trading positions on tech stocks using synthetic assets. The […]
Reports show that South Korean authorities have initiated an unrestricted investigation into the Terra meltdown. The authorities would investigate the LUNA-UST crash and Terra founder and CEO Do Kwon. Reports from local news firm JTBC noted that the investigations aim to discover if Keon manipulated the prices of UST and LUNA to cause the assets’ […]
Terra has launched the much-talked-about LUNA token, airdropping LUNA tokens to LUNA Classic (LUNC) and UST Classic (USTC) holders. There is a maximum supply of 1,000,000,000 LUNA tokens at press time, although the circulating supply remains unknown. LUNA recorded its most activity on giant trading platform OKX, with a 24-hour trading range between $6.46 and […]
Following the recent crash in TerraUSD (UST) and Terra (LUNA), another Terra-based token making headlines recently is the Wrapped Luna (WLUNA). Wrapped Luna suffered a similar fate with the other Terra cryptos as it now trades below the $0.01 level. Wrapped Luna is an ERC-20 token built to track the value of LUNA on the […]
After several accusations of not being transparent in its dealings, the Luna Foundation Guard (LFG) has provided a detailed explanation of the expenditure of assets under its custody. LFG is the organization responsible for securing the one dollar-peg of TerraUSD (UST), the algorithm-backed Stablecoin of the Terra ecosystem. The organization has acquired over 80,000 BTC, […]
The official Terra Twitter account tweeted yesterday that the network blockchain had been halted as the team scrambled for solutions to their predicament. The Twitter handle noted: “The Terra blockchain was officially halted at a block height of 7603700. Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA […]
Terra USD (UST) has become one of the most talked-about Stablecoins in the market today because of the jaw-dropping 20% APY (annual percentage yield) it promises. UST essentially promises significantly more returns on your assets than most hedge funds and banks. If it sounds too good to be true, it is probably because it is. […]
On April 8, the Luna Foundation Gaurd (LFG), a Terra (LUNA) organization, announced a partnership with the Avalanche Foundation and revealed that it would purchase $100 million worth of AVAX over-the-counter (OTC). The organization noted that the purchased AVAX would be held in its diversified reserves, along with Bitcoin (BTC), intended for its UST Decentralized […]
In its plan to add $10 billion worth of Bitcoin to its reserve, Terra (LUNA) has acquired an additional 2,830 BTC (worth $133.5 using the current exchange rate) to its wallet. Popular Chinese cryptocurrency analyst Colin ‘Blockchain’ Wu revealed that OKLink recently identified Terra’s foundation BTC wallet, noting that it now holds over $1.3 billion […]
